{"id":248,"date":"2020-03-29T21:54:32","date_gmt":"2020-03-29T21:54:32","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/?post_type=chapter&#038;p=248"},"modified":"2020-03-29T22:18:57","modified_gmt":"2020-03-29T22:18:57","slug":"outcome-surplus-and-inefficiency","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/chapter\/outcome-surplus-and-inefficiency\/","title":{"raw":"Outcome: Surplus and Inefficiency","rendered":"Outcome: Surplus and Inefficiency"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0use the concepts of consumer, producer, and total surplus to explain why markets typically lead to efficient outcomes<\/h2>\r\nIn this section, you'll build on your understanding of surplus from the previous outcome to examine the connection between types of surplus and the impact they have on the economy.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading:\u00a0Inefficiency of Price Floors and Price Ceilings<\/li>\r\n\t<li>Self Check: Surplus and Inefficiency<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do:\u00a0use the concepts of consumer, producer, and total surplus to explain why markets typically lead to efficient outcomes<\/h2>\n<p>In this section, you&#8217;ll build on your understanding of surplus from the previous outcome to examine the connection between types of surplus and the impact they have on the economy.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading:\u00a0Inefficiency of Price Floors and Price Ceilings<\/li>\n<li>Self Check: Surplus and Inefficiency<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n","protected":false},"author":59125,"menu_order":9,"template":"","meta":{"_candela_citation":"[]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-248","chapter","type-chapter","status-publish","hentry"],"part":211,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapters\/248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/wp\/v2\/users\/59125"}],"version-history":[{"count":1,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapters\/248\/revisions"}],"predecessor-version":[{"id":249,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapters\/248\/revisions\/249"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/parts\/211"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapters\/248\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/wp\/v2\/media?parent=248"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/pressbooks\/v2\/chapter-type?post=248"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/wp\/v2\/contributor?post=248"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-oldwestbury-publicfinanceandpublicpolicy\/wp-json\/wp\/v2\/license?post=248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}